What is Cloud Service Brokerage Market?
A cloud service broker provides a marketplace for enterprise-approved services, connects cloud services with each other and with on-premise applications, and keeps corporate data secure. Cloud service brokerage acts as a middleman between cloud providers and cloud users, assisting businesses in selecting the services and packages that best meet their needs. They can also aid in the deployment and integration of applications across multiple clouds, as well as provide an option and potentially cost-saving feature by allowing users to choose from a catalog of competing services.
The market study is being classified by Type (Integration And Support, Automation And Orchestration, Billing And Provisioning, Migration And Customization, Security And Compliance and Other Services (catalog management, backup and DR, reporting and BI, and API)), by Application (BFSI, Healthcare and Life Sciences, IT and Telecommunications, Retail and Consumer Goods, Manufacturing, Government and Public Sector, Media and Entertainment, Energy and Utilities, Education and Transportation & Logistics) and major geographies with country level break-up.
Accenture (Ireland), IBM (United States), VMware (United States), Jamcracker (United States), ActivePlatform (Belarus), Arrow Electronics (United States), Cloudmore (Sweden), Wipro (India), DXC Technology (United States), iPortalis (United Kimgdom), Cognizant (United States) and InContinuum (Netherlands) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are TCS (India), Pax8 (United States), Oracle (United States) and Fujitsu (Japan).
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that Global Players will contribute to the maximum growth of Global Cloud Service Brokerage market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Cloud Service Brokerage market by Type, Application and Region.
On the basis of geography, the market of Cloud Service Brokerage has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increasing Adoption of Hybrid and Multi-cloud Environment
- Rising Need to Avoid Vendor Lock-in
Market Trend
- Technological Advancements in Cloud Services
Restraints
- Regulatory Compliance Issues
Opportunities
- Growing demand among SMEs
- Proactive investments by enterprises in cloud-based models
Challenges
- Lack of Awareness and Security Concerns
Market Leaders and some development strategies
In May 2020, Microsoft launched Back2Business Solution Boxes for SMBs in India. The new solution intends to enable Indian SMBs to maintain business continuity during COVID-19 and continue cloud adoption. It also aims at solving challenges faced by SMBs during work from home.
Jan 2018: DXC Digital Directions series, authored by the company’s global technology leaders, explores digital opportunities for enterprises to gain actionable, data-driven insights, drive better customer experiences, increase employee performance, and deliver better business outcomes.
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Cloud Service Brokerage Provider, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End-Use Industry
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